Business Journal: Diamond Center Leaves Area

The Diamond Center, a retail chain based in Sacramento, has closed its doors.

The Diamond Center closed its corporate office in East Sacramento several days ago. During the last few months it had already shuttered its 11 stores, in northern California and the Chicago area. The Diamond sold jewelry to customers with poor credit. Former employees of The Money Store were key investors and executives with the Diamond Center. A plan for as many as 400 stores nationally never took hold. Financing became a big problem when the company lost its financing from Textron Financial in Rhode Island. About 75 jobs were lost in Sacramento.